Updated September 28, 2026
What is European Central Bank?
In short
The European Central Bank sets monetary policy for the euro area and supervises banks across the bloc, so lenders operating there answer to a second layer of oversight.
The European Central Bank sets monetary policy for the countries that use the euro and supervises banks across that bloc. It works alongside national regulators, so a lender based there is watched at home and at euro level. In this group, GEFA and BAWAG sit alongside Coop Pank, Nordea and ABN AMRO Zakelijk. When you weigh loan rates, the rate the central bank sets is the anchor that lenders build their own pricing on, which is why offers can move together across the region.